Consolidated Statements of Cash Flows

 
Years Ended March 31,
 
2000
2001
2002
Cash Flows from Operating Activites
 
Net income
$11,967,000
$13,222,000
$14,821,000
 
Adjustments to reconcile net income to net cash provided by operating activities:
   
Depreciation
6,965,000
6,759,000
8,414,000
   
Deferred income taxes
(131,000)
303,000
(40,000)
   
Loss on write down and (gain) on disposal of property and equipment
192,000
(45,000)
52,000
   
Changes in operating assets and liabilities:
     
Accounts receivable
(4,312,000)
1,558,000
1,276,000
     
Prepaid expenses and taxes
(1,075,000)
(534,000)
1,166,000
     
Accounts and taxes payable
(1,158,000)
(2,304,000)
426,000
     
Accrued liabilities
1,050,000
4,657,000
(27,000)
     
Other assets
(779,000)
149,000
488,000
 
Net cash provided by operating activities
12,719,000
23,765,000
26,576,000
 
Cash Flows from Investing Activities
 
Purchases of property and equipment
(6,240,000)
(10,154,000)
(10,876,000)
 
Net cash used in investing activities
(6,240,000)
(10,154,000)
(10,876,000)
 
Cash Flows from Financing Activities
 
Proceeds and tax benefits from exercise of stock options
3,078,000
4,150,000
2,681,000
 
Purchase of common stock
(12,966,000)
(13,947,000)
(15,237,000)
 
Net cash used in financing activities
(9,888,000)
(9,797,000)
(12,556,000)
Net increase (decrease) in cash and cash equivalents
(3,409,000)
3,814,000
3,144,000
Cash and cash equivalents at beginning of year
9,052,000
5,643,000
9,457,000
 
Cash and Cash Equivalents at End of Year
$5,643,000
$9,457,000
$12,601,000